The MSCI Asia Pacific Index increased 0.6% to 133.42, with about three stocks advanced against each that declined. The Japanese market rose as the US consumer confidence improved, easing concerns over the slowdown in the global economic recovery. The Nikkei225 gained by 1.25% to 9585.29. The Hang Seng declined by 0.61% to 22471.48 after the Hong Kong developers signaled that gains in home prices may slow further amid rising interest rates in China and the city. The Shanghai Composite lost 0.16% during the morning trade, whereas the Jakarta Composite gained 0.10%.
In the domestic arena, the markets are likely to open on a flat to negative note amidst mixed Asian bourses and as the SGX Nifty was trading lower by 0.14%. The Auto, Healthcare, Banking and Capital Goods space will be in focus during today"s trade.
Today, Nifty will face a resistance near 5,550 level and will have a support near the 5,480 mark.
On Thursday, the domestic bourses ended on a lackluster note after swinging on both sides of the baseline throughout the session. After witnessing a flattish start, the benchmark indices were seen surging above the baseline. However, the rally didn"t sustain and the market dipped into the negative terrain. Weakness prevailed in the domestic arena till the mid-session as the Auto and Realty space traded weak.
However, a sudden upsurge was witnessed in the domestic front post mid-session, as the Capital Goods space showed strength and the benchmark Nifty witnessed a mild technical bounce back taking support from the 5,500 level. The rally was short lived as the benchmarks were seen re-tasting the negative terrain as the country"s food inflation data for the week ended May 28 rose sharply by more than a percentage point to 9.01% as against 8.06% a week earlier, due to increase in prices of essential items like fruits, meat, milk and onions.
The BSE Sensex closed at 18,384.90 down by 9.39 points or by 0.05% and the NSE Nifty closed at 5,521.05 down by 5.8 points or by 0.10%. The BSE Midcap was at 6,921.59 down by 8.02 points or by 0.12% or by 0.03%, whereas the BSE SmallCap closed at 8,326.35 up by 6.85 points or by 0.08%. The BSE Sensex touched intraday high of 18,449.64 and intraday low of 18,327.01.
On Thursday, the U.S. markets marked an end to the six straight sessions of losses and closed on a positive note, despite of paring off some of the intraday gains. The morning rally came in amidst value buying among investors, which ignored the greater than expected initial jobless claims data.
However, the US trade deficit for April managed to stay at USD 43.7 billion, which was lower than the expected USD 48.7 billion. A strong USDA report has helped the shares of agricultural chemical and product companies to move higher, which in turn pushed the broader materials sector up by 1.6%. The financials and energy sectors gained by 1.2% each, providing good support to the market.
In the major indices, the Dow Jones Industrial Average (DJIA) closed with a gain of 75.42 or 0.63% at 12,124.36 while NASDAQ index finished up by 9.49 points or 0.35% to 2,684.87. The S&P 500 (SPX) closed higher by 9.44 points or 0.74% to 1,289.00.
The FIIs on Thursday stood as net buyer in equity, whereas net seller in debt. Gross equity purchased stood at Rs. 1905.40 crore and gross debt purchased stood at Rs. 826.80 crore, while the gross equity sold stood at Rs. 1730.60 crore and gross debt sold stood at Rs. 849.90 crore. Therefore, the net investment of equity and debt reported were Rs. 174.80 crore and Rs. (23.20) crore, respectively.
Top traded volumes on NSE Nifty - JP Associates 9138945, IDFC 8854681, ONGC 4658551, Power Grid 3931404 and NTPC 2387019.
On BSE, total number of shares traded was 20.19 crore and total turnover stood at Rs. 2359.01 crore. On NSE, total number of shares traded was 43.78 crore and total turnover stood at Rs. 8049.42 crore.
In the NSE Futures and Options segment, total number of contracts traded in index futures was 368984 with a total turnover of Rs. 9467.06 crore. Along with this total number of contracts traded in stock futures were 375893 with a total turnover of Rs. 9437.10 crore. Total numbers of contracts for index options were 1833714 with a total turnover of Rs. 51047.12 crore and total number of contracts for stock options was 82468 with a total turnover of Rs. 2108.44 crore.